My View on "Raghuram Rajan is the best hope for UPA":
247Reserve Bank of India has never been following text books. Once inside, Dr Rajan also has been following RBI's practice of allowing monetary policy to evolve based on the need of the day. Those who are finding fault with his approach are those who have gravely misjudged both RBI and Dr Rajan. Dr Rajan's actions so far have not proved that he is improving his CV for his next job. India needs him for a much much longer period than the present term of 3 years and in all probability, his career in RBI may last longer than the majority of earlier Governors. In India, people respect some of the Ex-Governors of RBI much more than IMF Chiefs who generally work for their constituency and bosses.
- M.G.Warrier
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